The blog has a image of what was planned, although I do not what changes have been made since this image was distributed.
A commenter’s stated he had spoken to the parks personal dismantling the diamond and was told it was to be a new play structure.
So I thought I would post the image
I know the Junction Residents Association held info sessions about this, which I was unable to attend and they may (probably) had more up to date plans. The City of Toronto has narrowly defined suppliers and type list for playground structures. This limited choice is probably and risk management driven plan, rather than a disengagement of the the parks designers with what Toronto communities what.